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Truphone raised $339 million to repay debt

Truphone is a London-based mobile company that named itself through a low-cost international mobile voice and data plan. It is taking a very big step towards a strategy. The company has received £255 million (339 million). $) funds will be used to repay debts and redouble efforts to provide data connections for connected devices other than mobile phones.

This investment is issued as a right to issue shares to existing shareholders at a special price: in this case, Minden and Vollin Holding Company, the two investment companies, and Russian oligarch Roman Abramovich (Roman Abramovich) is connected, the latter also owns Chelsea Football Club and so on. Before today’s press release, the two already owned 83% of Truphone.

Truphone CEO Ralph Steffens (Ralph Steffens) told TechCrunch that Truphone is valued at £370 million ($491 million) this round. Compared with Truphone’s previous report, this is not a big premium, and it is far below the total amount raised by the company in its lifetime: In 2013, Truphone raised £75 million at a valuation of £300 million. So far, It has raised nearly $600 million.

Steffens said that a large part of the investment today is to repay Truphone’s debt and start over.

Steffens said the company has been in existence since 2006 (I guess it may have exceeded the statutory period known as a “startup”), and in the past three to four years, it has been specifically in debt when expanding its business. About £239 million.

The rest will be invested in the company and will invest exclusively in acquisitions to advance its business in IoT. Truphone has already laid some foundations in this area. He said: “We are making a strategic acquisition, and we may announce it in a few days.

New, smart devices function to a certain extent by connecting to the Internet, and this craze has brought a new group of start-ups to provide this connection. In addition to Truphone, other companies in the same business area include Cubic Telecom-which works with Audi to work on connected vehicles and has recently raised some funds to promote its growth.

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